This is a December 2024 report from Oaktree Capital Management summarizing their quarterly investment letters. **Key takeaways** analyze various asset classes, including credit, life sciences, real estate, emerging markets debt, and convertible bonds. **Experts** discuss market opportunities and risks based on macroeconomic factors such as a robust U.S. economy, potential inflationary policies, and China's stimulus efforts. The report emphasizes **income generation** as a primary investment strategy and highlights **specific sectors** showing signs of stabilization or growth. Finally, the report includes disclaimers about investment risks and the limitations of forward-looking statements.
